5 billion bank with 37 locations throughout Illinois, instituted a USD1 monthly account
inactivity fee, they turned to EnableSoft's Foxtrot to automate the assessment of charges to accounts that were already dormant.
Some even have an
inactivity fee if you leave money on them at the end of the holiday and even a fee to close the card and get your cash back.
The worst ones will also charge you an
inactivity fee if you leave money on them at the end of your break and even a fee to close the card down to get your leftover cash back.
Finally, it would cost an $8-a-month
inactivity fee if the employee doesn't use the card, though that's only after three months.
An
inactivity fee can't be charged unless a card hasn't been used for 12 months.
If you leave your prepaid card idle for quite some time, be prepared to pay an
inactivity fee.
The Higher One account
inactivity fee is a flash point for students.
California and Washington prohibit any
inactivity fee for at least two years and then allow it only if the gift card's balance drops to $5 or less.
To write down a vendor's escheatment exposure, a credit professional may consider imposing an
inactivity fee to the credit balance.
Ours costs only $7/ trade with no minimums or
inactivity fee.
In May, Advanta informed some card holders that the company reserves the right to charge a $15
inactivity fee if their card is rarely used, plus $25 to close the account.
A $2-a-month
inactivity fee will continue, but it will be assessed after a year without deposits or withdrawals instead of the current 180-day assessment.
